Can you please quote the Section under SEBI LODR as well as Companies Act ?
Any case law on this ?
Please share How to file Unified Annual Return on Shram Suvidha Portal and due date?
what are the time limit within which the subscription amount to be brought by the subscribers of the company after incorporation under FEMA guidelines.Click here to view / answer Share it on
The Director was appointed as an additional director by Circular Resolution passed on September 15, 2022 and the appointment was w.e.f. 15/09/2022.
The AGM was held on 21/09/2022 wherein the Additional Director was appointed as WTD w.e.f. 15/09/2022.
Following are two queries w.r.t. same:
1) Can we regularize the Appointment of Director w.e.f. a date which is earlier than AGM date ?
2) Should we file 2 DIR-12 forms? -
one for appointment as additional director and second for appointment as WTD in AGM?
Kindly note the date of appointment in both the cases is 15/09/2022.
Does MCA allow filing of two DIR-12 forms if the date of appointment is same in both the forms ?
If you are issuing shares on rights basis to existing holders, then no need to go for a separate bank account but if we doing for new shareholders is it mandatory ?
section 62 (1) (a) tells us about Right issue. and valuation report/special resolution and separate bank account is not required for right issue but for public issue and private placement it is required.
section 62 (1) (c) is about private placement.
If we are triggering 62(1) (c) which speaks of issue of shares to other than existing holders.
Please confirm :
As per Section 39 of the Companies Act, 2013 (“The Act”) states that:
“No allotment of any securities of a company offered to the public for subscription shall be made unless the amount stated in the prospectus as the minimum amount has been subscribed and the sums payable on application for the amount so stated have been paid to and received by the company by cheque or other instrument”.
According to the above-quoted provisions, the minimum subscription and application money are the most important requirements for a valid allotment & filing of PAS-3
As a result, one could say that shares cannot be Allot until the application money has been paid to or received by the company (credited) via cheque or other instrument.
Is it right ? or we have any option ?
As per the Secretarial Standard 2, serial no. shall be given to each extra-ordinary general meeting held by the company after the secretarial standards came into force from 1st July, 2015. Annual General Meetings shall be held either at the registered office of the company or at some other place within the city, town or village in which the registered office of the company is situated, whereas other General Meetings may be held at any place within India.
Explanation to Rule 18 of the Companies (Management and Administration) Rules, 2014, prescribes that the Extra-Ordinary General Meeting should be held at a place within India. Thus, an Extra-Ordinary General Meeting should be held only in India though not necessarily within the city, town or village in which the Registered Office of the company is situated.
However, Clause 27 of the Companies (Amendment) Bill, 2016 seeks to amend sub-section (1) of section 100 of the Companies Act, 2013 to allow the wholly owned subsidiary of company incorporated outside India to hold its extra ordinary general meeting outside India. As per Clause 27, in section 100 of the principal Act, in sub-section (1), the following proviso shall be inserted, namely:—
"Provided that an extraordinary general meeting of the company, other than of the wholly owned subsidiary of a company incorporated outside India, shall be held at a place within India."
Government e-Marketplace (GeM) is the National Public Procurement Portal; an endto-end online Marketplace for Central and State Government Ministries / Departments, Central & State Public Sector Undertakings (CPSUs & SPSUs), Autonomous institutions and Local bodies, for procurement of common use goods & services.
The portal is owned and managed by GeM SPV which is a Section 8 (NonProfit) Company registered under the Companies Act, 2013.
GeM SPV operates, monitors and supervises all the business transactions on the portal through the Managed Service Provider as per defined roles and responsibilities.
We have to compulsorily round off the Figures in your financial statements.
for companies over 100 Crores, it is Lakhs, Millions, or Crores or 100 Crores
for companies below 100 crores, it is hundreds, thousands, lakhs or crores
But in case of loss what to do ?
Compliance Calendar LLP is Recognised as Startup by DIPP Under Ministry of Commerce & Industry, Government of India
KMP is defined as follows in the SEBI(ICDR)
key managerial personnel” means the officers or personnel of the issuer who are members of its core management team (excluding board of directors) and includes members of the management one level below the executive directors of the issuer, functional heads and ‘key managerial personnel’ as defined under the Companies Act, 2013 or any other person whom the issuer may declare as a key managerial personnel
So it is clarified that the meaning of KMP is wider in SEBI(ICDR) as compared to The Companies Act, 2013
Example:- A Person who is the Head of Marketing (Functional head) would be designated as a KMP as per SEBI ICDR but not as per the Companies Act
Hope it helps!!